Commodity Prices

Gold •436 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,411.70	+11.90	+0.85%
WTI Crude •6 hours	62.69	+0.32	+0.51%
Gasoline •6 hours	1.985	+0.006	+0.31%
Ethanol •436 days	2.161	+0.000	+0.00%
Silver •436 days	30.82	+1.16	+3.92%

Silver • 436 days	30.82	+1.16	+3.92%
Copper • 436 days	4.530	+0.111	+2.51%
Brent Crude • 5 hours	66.99	+0.62	+0.93%
Natural Gas • 6 hours	2.941	+0.007	+0.24%
Heating Oil • 6 hours	2.290	+0.008	+0.35%

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Gold: Moving South?

By - May 27, 2014, 5:45 AM CDT

Gold has recently displayed a succession of small daily real bodies indicating a state of indecision. Monitor the support at 1284 (21/05/2014 low), as a break would confirm the underlying bearish structure. Another support lies at 1269. Resistances stand at 1304 (22/05/2014 high) and 1331.

Longer term, we are sceptical that the horizontal range between the strong support at 1181 (28/06/2013 low) and the major resistance at 1434 (30/08/2013 high) is a long-term bullish reversal pattern. As a result, a decline towards the low of this range is eventually favoured.

Daily Technical Report